According to the new market research report “Compound Management Market by Product & Outsourcing Services (Instruments (Automated Storage, Decapper), Software), Sample (Chemical Compounds, Biological Samples), End User (Biopharma Companies, Biobank, Pharma Companies, CRO) – Global Forecast to 2023“, published by MarketsandMarkets™, The global compound management market is projected to reach USD 424.5 million in 2023 from USD 215.3 million in 2018, at CAGR of 14.5%. Increasing drug discovery activities, the growing biopharmaceutical industry, and the rising trend in outsourcing compound/sample management are the major factors driving the growth of the market.

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[118 Pages Report] The global compound management market is projected to reach USD 424.5 million in 2023 from USD 188.0 million in 2017, at CAGR of 14.5%. The base year considered for the study is 2017, and the forecast for the market size is provided for the period between 2018 and 2023. In the current market scenario, the growth of the market can be attributed to the increasing drug discovery activities, growing biopharmaceutical industry, and rising trend in outsourcing compound/sample management. On the other hand, the large capital investments needed to establish compound management facilities is the major factor restraining market growth.

Objectives of the Study

• To define, describe, and forecast the compound management market on the basis of product & service, sample type, end user, and region
• To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
• To strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
• To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
• To forecast the size of the market segments with respect to four major regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW)
• To profile the key players in the market and comprehensively analyze their market positions and core competencies
• To track and analyze competitive developments such as partnerships, agreements, and joint ventures; mergers and acquisitions; product development; and research and development activities in the compound management market

Drivers

Increasing drug discovery activity

Rising R&D expenditure globally has driven the pace of drug discovery. Most major players in the pharmaceutical industry have committed substantial investments to R&D to fulfill the demand for more effective drugs and therapies, which has proven beneficial to the compound/sample management market.

Additionally, the demand for automated compound/sample management is expected to gain momentum in the coming years due to the growing government funding for biotech and drug discovery research worldwide.

Growth of the biopharmaceutical industry

Biopharmaceuticals form the fastest-growing segment of the pharmaceutical industry. The growth of this sector will also support that of the sample management market, as increased biologic production will spur the demand for sample management. The growth of the biopharmaceuticals market is attributed to the increasing demand for biologics, the emergence of biosimilars, and increasing R&D expenditure in biopharmaceutical companies, as well as the increasing prevalence of chronic diseases.

Browse and in-depth TOC on “Compound Management Market”

95 – Tables

24 – Figures

118 – Pages

View more detailed TOC @ https://www.marketsandmarkets.com/Market-Reports/compound-management-market-182172928.html

Market Players

The compound management market is highly competitive due to the presence of a large number of players. Few companies that provide compound management systems are Brooks Life Sciences (US), Hamilton Company (US), TTP Group (UK), Labcyte (US), Biosero (US), and Tecan (Switzerland).

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